Pzena Investment Management LLC Trims Stake in KB Financial Group Inc $KB

Key Points

• Pzena Investment Management LLC reduced its stake in KB Financial Group by 17.4%, owning 41,601 shares worth approximately $3.43 million after selling 8,750 shares in the second quarter.
• KB Financial Group reported earnings of $3.16 per share for the quarter, surpassing analysts' expectations, with a revenue of $3.32 billion.
• The company declared a quarterly dividend of $0.657 per share, yielding 3.3% annually, and has a consensus rating of "Buy" among analysts.

Pzena Investment Management LLC lessened its holdings in KB Financial Group Inc (NYSE:KB - Free Report) by 17.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,601 shares of the bank's stock after selling 8,750 shares during the quarter. Pzena Investment Management LLC's holdings in KB Financial Group were worth $3,436,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in KB Financial Group by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,494,535 shares of the bank's stock worth $134,946,000 after acquiring an additional 7,386 shares during the period. Northern Trust Corp grew its stake in shares of KB Financial Group by 4.9% in the 1st quarter. Northern Trust Corp now owns 957,093 shares of the bank's stock worth $51,788,000 after buying an additional 44,564 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of KB Financial Group by 3.5% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 844,377 shares of the bank's stock worth $45,689,000 after buying an additional 28,484 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of KB Financial Group by 3.5% in the 1st quarter. American Century Companies Inc. now owns 634,875 shares of the bank's stock worth $34,353,000 after acquiring an additional 21,672 shares during the last quarter. Finally, Ramirez Asset Management Inc. lifted its holdings in shares of KB Financial Group by 24.6% in the 2nd quarter. Ramirez Asset Management Inc. now owns 304,298 shares of the bank's stock worth $25,132,000 after acquiring an additional 60,056 shares during the last quarter. Hedge funds and other institutional investors own 11.52% of the company's stock.

KB Financial Group Trading Up 1.9%

Shares of KB opened at $78.96 on Tuesday. KB Financial Group Inc has a 1-year low of $46.38 and a 1-year high of $92.39. The company has a 50-day moving average of $81.31 and a 200 day moving average of $74.83. The firm has a market capitalization of $30.12 billion, a price-to-earnings ratio of 7.59, a PEG ratio of 0.59 and a beta of 1.10. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.67 and a quick ratio of 1.67.

KB Financial Group (NYSE:KB - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The bank reported $3.16 earnings per share for the quarter, beating analysts' consensus estimates of $3.15 by $0.01. The company had revenue of $3.32 billion during the quarter, compared to analyst estimates of $3.20 billion. KB Financial Group had a net margin of 16.16% and a return on equity of 9.79%. On average, research analysts expect that KB Financial Group Inc will post 8.87 EPS for the current year.

KB Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 8th were given a dividend of $0.657 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $2.63 dividend on an annualized basis and a yield of 3.3%. KB Financial Group's dividend payout ratio (DPR) is 20.37%.

Wall Street Analysts Forecast Growth

KB has been the subject of several analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of KB Financial Group in a report on Wednesday, October 8th. Wall Street Zen lowered shares of KB Financial Group from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, KB Financial Group has a consensus rating of "Buy".

About KB Financial Group

KB Financial Group Inc provides a range of banking and related financial services to consumers and corporations in South Korea, the United States, New Zealand, China, Cambodia, the United Kingdom, Indonesia, and internationally. The company operates through Retail Banking, Corporate Banking, Other Banking Services, Credit Card, Securities, Life Insurance, and Non-Life Insurance segments.

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